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20121228
20121228
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in congress, at least this time. so who are your successors, who you see in congress right now who will carry on these struggles for privacy, against drones? >> i would hope people i have worked with in the past like barbara lee, alan grayson and others would continue the efforts. there are people on both sides of the aisle which expressed concern. you have to remember we put together a very powerful coalition in challenging the war in libya that was a collision between democrats and republicans that reflects a new concern about where is america going? why are we letting the president or the white house determine that we should expand war? we don't even involve congress anymore. i think you are going to see continued efforts. the question is, the strength of it. and the question is, as a function of the work of political parties, why political parties have essentially been outside of this debate over civil liberties? why have the parties watched as the skirmishes that go on inside congress are really not emboldened by the support of either side of the aisle in some official party structure? t
face this fight with a new congress, right? >> yeah. this would be another can-kicking exercise. it would also likely or possibly include any type of spending reform or tax reform to be continued through next year. adam: there's the president. rich, thank you. >> for the past couple of months i've been working with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for middle class families and it woul
-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time president obama has met face to face with congressional leaders since mid-november. duarte, tick tock. >> thank you. >>> general schwarzkopf is being remembered this morning as a great hero and tactician. as teresa garcia the general died yesterday at his home in tampa from complications related to pneumonia. >> reporter: general h. norman schwarzkopf received military acclaim as a war hero. he led the desert storm, a coalition of 30 countries that successfully drove forces out of saddam hussein's group. >> we're very proud to be able to do this. >> reporter: schwarzkopf was born in 134 in trenton, new jersey. he followed his father's footsteps to west point. in 1966 he volunteered to serve in vietnam. his name name was stormin' norman referring to his notoriously exploding temper. >> going around and little, is that why -- >> around, through, over the top, underneath, and any other way. >> reporter: desert storm topped his 34-year
. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> it comes after speaker boehner left the white house. he didn't say anything to reporters and neither did anyone else who was seen leaving the meeting. here's what we do know. in just four days, taxes will go up on millions. and millions more will have their vital unemployment benefits run out. that's why president obama organized the meeting with vice president biden, speaker boehner, nancy pelosi and senators reid and mcconnell. he urged them to extend jobless benefits. we can deal with cuts to defense and domestic programs later. but let's take care of the middle and working class right now. give them assurance right now. joining me is congressman chief ellison. he's co-chair of the progressive caucus and melissa harris pe
. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time president obama has met face to face with congressional leaders since mid-november. duarte, tick tock. >> thank you. >>> general schwarzkopf is being remembered this morning
to be russia's retaliation for a set of human rights sanctions passed by congress and signed into law this month by president obama. >>> sunday's football game in indianapolis is more than just about winning. it will also be a triumph over adversity and personal battles won. abc's t.j. winick reports on the reversal of fortunes for the colts and their coach. >> reporter: coming into this nfl season, the challenges for colts' first-year head coach chuck pagano were many. a team that finished the league-worst 2-14, last year. >> the indianapolis colts select andrew luck, quarterback, stanford. >> reporter: and a rookie quarterback, taking over for the departed peyton manning. but less than a month into the season, those challenges were nothing, compared to the devastating personal news he received. >> the conclusion came down that he did have leukemia. >> reporter: the 52-year-old was forced to take a leave of absence for treatment, which included chemotherapy. expectations fell for the new-look colts. and yet, they've defied all expectations, behind rookie q.b. andrew luck and an inter
families and it would be bad for businesses that depend on family spending. fortunately, congress can prevent it from happening, if they act right now. i just will a good and constructive discussion about how to prevent this tax hike on the middle class. i'm optimistic we may be able to reach pan agreement that will pass both houses in time. senators reid and mcchon nell are work -- mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a blase sick package for an up or down vote, one that protects the middle class from an income tax high, extends the vital lifeline of pun insured been fits and a plan for an economic growth and deficit reduction. >> that was president obama talking with four days left in that fiscal cliff deadline saying he's hoping congress will reach a deal on this. if not, he's asking them to bring a package to the floor that will protect middle class mrns. >>> coming up all brand-new at 6:00, american families are now banned fr
are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are. five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the onlyway a bill could come through the you woulds in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, don will be watching. >> everybody's kind of in a wait and see and finger crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener, for cbs news, washington. >>> time right now is 6:07
will be right back gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american paycheck will get considerably smaller. that would be the wrong thing to do. gerri: no kidding. we have been telling you that for weeks. democrats and republicans alike should rename their parties the procrastination party. that is because like a lot of college freshman, they left their work until the last minute. including the 800 billion-dollar fiscal cliff that we have been talking about. a hundred billion dollars it hasn't happened yet. it's not like the deadline comes as a surprise to anybody at all, the least of all congress. they were the ones who extended the bush tax cuts. origi
that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspec
stole the rally? the folks inside the beltway; right? >> it's congress. it's a really bad week and bad month for stocks. this is when we have a santa claus rally, final ten days of the year are supposed to be really stroke. not the case today. you talk about the low of the session. i tracked this. we were down 170 points at the low of the session. i didn't remember seeing it, but we were. hp, a grinch itself, continuing the decline adding to its 46% yearly decline, the biggest loser so far this year i'm learning. >> yeah, it is the biggest loser on the dow, especially today, down today. this on news that the government
and the country already just because of the lack of action? >> i think the president and the congress are right now not serving the people in the best fashion. we need the fiscal cliff resolved right away. this uncertainty causes great harm to the country, and we need very aggressive plans to reformulate our budget so that we don't have to have this uncertainty hanging over us so freakedly. you know, right now, american factories have a 20% price differential with competitors all through the the world. we need our system to be more competitive so we can grow. if we raise taxes on the job creators, on the factory owners, what happens is we'll be less competitive. the 20% will grow. we'll have less factories built here in america. it's very important that washington starts working out deals right away so that the fiscal cliff can be history, and we can focus on building factories, higher people, growing. dagen: well, they are not listening to you, drew. i hate to break it to you. in the interim, your company makes wire baskets and does sheet metal fabrication. based on what you see, how much of y
between congress and the presidency. >> as long as the hard right is only afraid of the hard right back home, the further hard right, they have a lot of strength. >> yeah, and i don't think this type of party can become a governing party for those reasons. >> do they want it? do they want to? >> some of them don't. some would rather go down fighting. >> you can survive in congress for 30 or 40 years simply issuing press releases trashing the government. >> easily. >> that's all you have to do. >> there's 100-plus that could be there forever. >> they're all stuck with the committee chairs. the democrats would love to be the committee chairs, and the republicans would love to be the ranking opposite member who doesn't have to do anything. it's so bad. anyway, what a disgrace. ryan grim, thank you. [ male announcer ] with over 50 delicious choices of green giant vegetables it's easy to eat like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant like gas station sushi. or super cheap car insurance. and then there are good decisions. like esurance. their coverage counse
earning $250,000 or less. but even that seems unlikely. >> the american people have a right to be very upset with this congress. >> publicly, both sides have ratcheted up rhetoric, pointing the finger. >> john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> the only reason why democrats have been trying to defect -- deflect attention over the past few weeks is they did not have a plan of their own. >> the path for the rest in the hands of the senate. house republican leaders say they will take action on whatever bill can pass the chamber. if there is a breakthrough, the legislation will not pass until the 11th hour or because house members to not return here until sunday night. abc news washington. >> new word on a potential dockworkers' strike that could cripple the nation's economy. the mediator now says contract with the longshoremen on the east and gulf coast have been extended for 30 days. thousands of workers at the port of baltimore and 14 other ports from boston to houston were ready to go on strike sunday. those po
't predict what's going to happen next year, much less ten years. and you are right, future congresses can change. last year when we had the big debt ceiling fight and the budget control act and everybody was worried about that, we pass add budget control act and set limits on spending, we exceed them all the time. we bring up a point of order and they said we decided we don't care anymore, a year later. so they don't obey their own rules. it's why people are so frustrated with congress is he pass rules on ourselves like we are supposed to read the bills and brent them up and put them on line and we disobey the rules. the majority votes and say we don't care. >> we will hit the debt ceiling soon. two questions. one, would you agree for any reason to raise the debt ceiling, and number two, if we hit the debt ceiling, does this mean the americans will not get their tax refunds when they apply for them in january, february and march or will they be delayed? >> i would raise the debt ceiling under one condition and that would be a balanced budget amendment to the constitution. barring that, pe
cliff meeting at the white house right now, four top members of congress meeting with the president in the oval office. can they avert us going over that fiscal cliff? [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new v
moderates left, because so few seats are competitive. members of congress -- it's a lot different right now when it comes to the republicans. >> then no one will be raising taxes. we just couldn't come to an agreement. look how great the 113th is to start off the new years. >> and everyone gets to say, you know what? none of our problems will be solved. >> i'm over the fiscal cliff. i'm over you. i really am. >> i quit it, too. i'm with you, thomas. >> i wish i could quit it. >> this is political coward is at its finest. they have passed the bill that lets them do the things that they really want to do. republicans would love to eat into entitlements, but has no fingerprints to say, hey, we didn't do it, the fiscal cliff did it. >> this could be easy to do, i think, because they were close a week ago, then boehner put forward that gimmick on plan b. if they can't get this solved, how will we deal with immigration reform, which i this i is more politically challenging. >> these are self-inflicted punches, wounds, that they crafted to make them better, and they are failing. thanks for putting
this morning. he signed the ban in retaliation for a new law passed by the u.s. congress that punishes russian officials for human rights abuses. many russians protested this week and even the russian foreign minister the law is a bad idea. >>> taking a look at our other top stories now. sad news this morning, desert storm commander norman schwartzkopf has died. the retired general died from economy indications of pneumonia. he was given the nickname, storming norman and best known for leading international forces in iraq in 1991. he was 78 years old. >>> former president george h.w. bush is in intensive care in a hospital this morning in houston county. he is battling several complications, including bronchitis and a fever. he was admitted to the hospital last month. >>> here we go. >> hear the music -- >> you know what it is, yep. dave ross is hear to talk redskins, cowboys. hello there. >> what a show. when you have the first ladies of football in the house, right on in studio b. they played at my brother's wedding 10 years ago. >> did they really? >> incredible band. >> that's fantastic. >
, trying to set things right. this, france, is what the president of the governing congress party had to say. >> our thoughts are with the young woman who is fighting for her life after this attack. and our wish today is that she recovers and that she -- >> those are of sympathy. but also talk of new legislation. is that what people think are needed, or just currently putting the proper laws that exist into practice. >> i think a lot of effort is focused on trying to insure that the laws that do exist are exercised by people. the police forces and the courts. the biggest reform measure of the government's picking up on the back of these protests is the fact that they're trying to now make sure that rape cases are tried in fast track courts. india's judicial center is flawed and what tends to happen is a lot of women who are victims of rape simply stop testifying because, you know, they just want to forget the incident on move on with their life. or their fear of retribution and intimidation. it's not unknown for people accused of rape to get away completely in the last year france, th
the fiscal cliff which will have sadly almost no impact on the long- term debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we really need to be here. you hear, well we need to do that this week. we need to do that day after tomorrow. this short-time frame horizon is new and i think people who think we are going to have tax reform and entitlement reform next year are way, way off base. >> cutting short his vacation but it's unclear whether he has the power to force a last minute solution through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market as well as housing making progress. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in t
law passed by congress that punishes officials for human rights abuses. >>> still ahead, redskins mania here at fox 5. >> dave ross is here all morning long with a preview of the sunday match-up. in the 7:00 hour, some trash talking with our counterparts at the fox station in dallas. >>> at 9:15, some of the redskins cheerleaders will join us live in studio. it is redskins all day here on fox 5. we'll be right pack. -- we'll be right back. %uÑó >>> the united states is ordering all embassy staff in the country of the central african retubal to leave and last night, a u.s. air force cargo plane evacuated the american ambassador and about 40 other american citizens. it is because rebels have taken over more towns near the capital this week. >>> da vip which i equine emergency transport based in poolesville, maryland is helping a group of miniature horses make their way to newtown, connecticut. the therapy horses typically visit sick, at risk or abused children. davinci volunteered to transport the and medicals so they can provide comfort and distraction for the victims of the sand
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay
people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be th
a right to be very upset with this congress. >> the treasury department would have trouble paying its bills. many economists worry the financial troubles would plunge the u.s. back into recession. just one possible effect of the fiscal cliff milk prices goodbye to about $2 or $3 a gallon because farm programs will expire at the end of the year. >> tributes are pouring in for the general who led the international coalition that drove sadaam hussein's forces out of kuwait in 1991. norman schwarzkopf died yesterday in tampa, from complications from pneumonia. he was 78. he had an extensive and celebrated military career. he kept a low profile during his retirement, supporting charities and resisting offer to run for public office. former president george h. w. bush remains in intensive care at a hospital in houston. his spokeswoman says he's getting excellent medical treatment. she says he would advise people to "with the harps back in the closet." he was admitted to the hospital november 23 and has been in intensive care since sunday, battling a terrible case of bronchitis and a series
people stop buying it? >> reporter: luckily for congress, it won't happen right away. after the farm bill expires on january 1st, the department of agriculture could take weeks to put a new dairy purchase program in place. but eventually, congress will have to agree on something. >> i hope they realize that the people that vote for them are going to be in a hard place if they don't get this solved. >> reporter: or a staple at the dinner table could soon turn into a luxury. stephanie gosk, nbc news, chicago. >>> 7:41. now here's willie. >> thank you very much. there's an urgent threat facing an animal that may scare some of you, bats. they are dying in record numbers. nbc's tom costello tells us why and what's being done to save them. >> reporter: on a foggy morning in the hills near fort knox, a big mission to save a tiny creature. one that requires protective suits and gloves, a trek down a slippery hillside, then a belly crawl under a rock frp a steep drop into the limestone cave below. there, hanging face down on the walls, bats. lots of them. some hibernating in clusters, others alone
. it is important congress has its voice heard. i did not presume to know we were right. i did know there had to be some alternative evidence. -- avenues. within the intelligence arena, we had a chance to look closely to unmanned area vehicles. it seemed to me this could be a pathway to revolution .it. it would not have happened, had congress not been involved. >> we could probably offer some examples from the other direction, so let me understand how does the public get best served with the competing forces that all want their program to continue? their district to be served. >> it is a big part of our job. it is an appropriators responsibility to be involved in that fight. it involves both oversight and insisting that money be spent well. i must say it comes to mind that one of the first projects i was ever involved in, a young person dropped a ping-pong ball on his back window during the 1938 flood. the ball hit the water and floated out the back fence. many years later, and earmarked back here that led to the project, that sort of seven oaks dam, ensures that entire valley, the inland emp
bankruptcy rights for federal dollars. >> i believe the protection bureau has floated the idea. >> congress should consider, not that congress should. >> he or she said, i think the more important question to ask is why the u.s. relies on student loans at all. >> student loans are cheaper than grants. >> i don't know and which direction he meant this, but the conversation earlier, talking about the public good of education, if they are defunding the state and city institutions and having to provide more loans, would that be another solution set you could have a free college experience? >> haunt you just have to have $200 billion to spend on it. where is the money going to come from? families, but only one source that maybe has the kind of money >> is a funding priority. their articles written about this, but health care increases, fuel costs, and prisons have become a much higher priority than education. i am not saying it as a right priority, gosh i think this is the heart of the matter. he talked about working at a public university, 73% by the state or whatever and you advance arguments
out is january 1st really isn't the only big looming deadline. the 112th congress disbands. so what is that going to do to the fiscal cliff negotiations? >> right, there are a couple deadli deadlines actually coming up. january 2nd is the last day of the current congress. any bill that's been submitted, especially the bills that have been passed, the deal with the fiscal cliff, those bills would be worthless. they would go into paper and everything would have to start from scratch. the new congress would have to start a bill and start the process from the beginning. now there are some tricks that congress has to try to speed things up when it wants to. so to some degree, it's not that big of a deal. if there was a deal in the offing, january 3rd, enough votes for it, they could get around the hurdles. but i'm glad you brought up the deadlines because another one is tomorrow. unemployment benefits run out tomorrow for 1 million people. not true. the unemployment portion of the fiscal cliff actually hits us tomorrow. and that's when 1 million people are estimated to see unemployment b
spending. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion at the white house with the leadership in the senate how to prevent tax hike in the middle class. i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agre agreement as we speak. if an agreement isn't reached in time between senator reid and senator mcconnell then i will urge senator reid to bring to the floor a basic package for an up-or-down vote. one that protects the middle class from the income tax hike, extends the vital lifeline of the unemployment insurance to 2 million americans looking for a job. and lays the groundwork for future cooperation, more economic growth. deficit reduction. guys, i can hear you over there. i believe such proposal could pass both houses with bipartisan majorities. as long as the leaders allow it to actually come to a vote. if members of the house or senate want to vote no, they can. let even vote. that is the way this is supposed to
, was was there a meeting, in the a meeting going back whether or not that -- members of congress meet the president today. that's where we are right now. we just don't know just -- much of anything. though this deal if it is, in fact, true, is a sign of progress. and probably does indicate that maybe we are reach something sort of end game of the fiscal cliff. >> this 400,000 number, professor dyson, this is not the president's number. this is way past the red line. i'm not reporting that it is happening. but i am reporting that it is being floated as another republican offer. if -- i want to be clear. these things move around. maggie, ju just laughing at me. >> the season to be jolly. it is friday. >> yeah. if we can't part take in the jolly who among us can? professor dyson, 400-k, if that's being floated and way past the red line for the re-elected president, what do you make of the politics of this? >> 401-k is right if that's what if you are trying to retire. that's ridiculous. the president's number, as you said was 250,000 if you are going to go old school street lottery. therefore, drew some adva
-class families and for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act right now. i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i am optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but, if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up-or-down vote, one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job, and lays the groundwork for future cooperation of more economic growth and deficit reduction. guys, i can hear you over here. i believe such proposal could pass both houses with bipartisan majorities, as long as those leaders allow it to actually come to a vote. if members of the house or the senate want
. fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. i'm optimistic we may still be able to reach an agreement that can mass both houses in time. senators reith and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up-or-down vote, one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job and lays the groundwork for future cooperation on more economic growth and definite at this time reduction. guys, i can hear you over here. as long as those leader allow it to actually come to a vote. if members of the house or the in a want to vote no, they can. but we should let everybody vote. that's the way this is supposed to work. if you can get a majority in the hou
, congress can prevent it from happening if the act right now. i just had a good and constructive discussion here in the white house with senate and house leadership about how to prevent the tax hike on the middle class. i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement is not reached in time, between senator reid and senator mcconnell, i will urge senator reid to bring to the floor a basic package for and getan up or down vote, one that extends the vital lifeline of unemployment insurance to 2 million americans, and lays the groundwork for future cooperation on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities, as long as those leaders allowed to actually come to a vote. if members of the house of the senate want to vote no they can. but we should let everybody vote. that is the way this is supposed to work. if we get a majority in the house, we can get a majority in the senate, and shou
. >> everybody's kind of in a wait and see and finger crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >> now this afternoon's white house meeting is the first time the president and all four leaders of the house and senate will meet face-to-face since november 16th. >>> a horrific smashup on the springfield interchange leaves three people dead. it happened around 7:00 last night. the i 495 flyover ramp to i-95 was blocked for most of the night as police cleared the scene. police tell us that a semitrailer was shopped in traffic when it was rear ended by a pickup truck. all three people inside that pickup died at the scene. the semi driver was not injured. >>> geneticists are studying the dna of adam lanza. he shot his mom and killed 26 people in newtown before taking his own life. the connecticut health center was asked to join the investigation to look for threws about the roots of his -- clues about the roots of his violence in his dna. >>> you can gamble 24 hours a day, 7 days
's handling the fiscal cliff. republicans in congress are in the mid-20s. >> that's right, there's no question about that, tremont. obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly effective. in the short term, absolutely, the president is set to take advantage of this. tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have a
growth and reducing unemployment versus 19% who are reducing the federal budget deficit. >> all right, hampton. thank you very much. >>> the finance.yahoo.com poll puts you in the shoes of a member of congress. how would you handle the fiscal cliff? go vote finance.yahoo.com. the results are coming up. there you see your options. michelle. >>> tyler, one of cnbc's best known traders making a very bold call. get out of everything, everything, all cash. get the take of other -- two other wall street trading pros in two minutes. see if they agree. >>> hi. i'm steven yee. i'm the operating partner of the exchange bar and grill. i'm annoyed. i'm annoyed with the fiscal cliff. we're looking at not knowing what's going to happen. we fall off this cliff and everyone gets affected. there's no trickle down effect, it's more like a slush. we will lose income. the question is how much income are we going to lose? if we fall off the cliff the fear is that we fall off the cliff, not slowly glide down the cliff. government at this point needs to understand that we should be able to trust you to do t
congress is that part of the problem you're right about in your book? guest: the tax breaks are supposed to assist some ownership. actually, they benefit mainly wealthy people. you have to pretty much to earn more than $55,000 per year. more than the median income, to be able to declare the tax break. the wealthy people who would already be buying a home anyway would get the tax break. i don't think it assists home ownership. it adds to% or 3% to home ownership rates. if we get rid of the mortgage interest deduction. at the same time, the state and local areas that do land-use restrictions got rid of their land use restrictions, we would see much higher ho homeownership rates. host: what about second homes? guest: same thing. land-use restrictions are restricting second homes. if we had less land-use restrictions, we would see more second homes. host: back to the book -- guest: that's right. it is erroneous to say that we had a housing bubble. instead we had many housing bubbles. the housing bubble sat almost perfectly correlated with the state and local areas that have land-use restrict
to the drawing board and do more testing and look again. because of that, the congress being directly involved, saying they may not be right on this one, we were able to move ourselves in the direction and make sure it would be the cutting edge for decades in the future in terms of america's air strength. >> we often hear who is right and who is to blame for the wasteful spending. some programs the military does not want continued to be funded because they have jobs. >> it is important for us to know the department of defense is not always right. for example, one of the early earmarks involved an arena known as unmanned air a coat -- area of vehicles. they did not have a person sitting in this seat. revolution in the way we deliver intelligence to an aircraft. they are now on the cutting edge of tomorrow's air force. it is important congress has its voice heard. i did not presume to know we were right. i did know there had to be some alternative evidence. we had a chance to look closely to america -- area of vehicles. >> we could probably offer some examples from the other direction, so let me
be bad for businesses that depend on family spending. fortunately congress can prevent it from happening if they act right now. i just add good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reed and mcconnell are working on such an agreement as we speak. but, if an agreement isn't reached in time, between senator reid and senator mcconnell, then i will urge senator reid to bring it to floor a basic package for an up or down vote, one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job, and lays the groundwork for future cooperation on more economic growth and deficit reduction. guys, i can hear you over there. i believe such proposal could pass both houses with bipartisan majorities as long as those leaders allow to the actually come to a vote. if members of the house or the senate want to vote
congress comes into session on january 3rd. gregg: that's right. we've been following not only the events on the floor but people stepping before microphones. here is representative jim moran. >> there are going to be voting sunday night and then probably watching the skins-cowboys fame in the cloakroom. then we'll, then we'll be in session on december 31st as well. gregg: what does he mean, we're going to vote sunday night? >> here's what might happen. both parties meet with the president today at the white house. they all say look, here we are on the precipice here. let's come up with something so we stop these tax hikes from happening on january 1st. let's come together and come up with kind of a stopgap deal. in other words, something short term. this is something congress will typically do when both sides are at an impasse. they find a way to get by for a little while longer. buy themselves more time. if they come up with a deal like that, the house is coming back into session on sunday night. it is highly possible they could vote on something then. the senate could also pass it and
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